February, 2023

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What You Need to Know About Price Anchoring

Wiser

Picture this: you’re scrolling on your phone, and you come across an ad for a pair of headphones that says, “Was $100, now only $75!” Sounds like a pretty good deal, right? Well, that’s a price anchoring strategy. Instead of just listing prices at a flat rate, companies will offer shoppers a discounted deal so they perceive the item as more valuable.

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The running list of major retail bankruptcies

Retail Dive

From Toys R Us to J.C. Penney, many retailers have filed over the past few years. Here’s who has fallen victim since 2017.

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The Heart of EuroShop: Shopfitting, Store Design & Visual Merchandising

Retail Focus

The EuroShop trade fair, held in Düsseldorf from 26th February to 2nd March 2023, will showcase the latest developments in retail design, shop fitting and visual merchandising. This sector, one of eight experience areas at EuroShop, is the largest and most diverse, with 328 exhibitors showcasing their latest products and ideas over 28,000 square metres of exhibition space in Halls 10, 11, 12 and 13.

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The RealReal Cuts 230 Jobs in Streamlining Effort Aimed at Reaching Profitability

Retail TouchPoints

The RealReal will cut operating costs through layoffs and store closures, with plans to eliminate 230 positions, or 7% of its workforce, according to a filing with the Securities and Exchange Commission. The resale company also will shutter two flagship stores, in San Francisco and Chicago, two neighborhood stores, in Atlanta and Austin, Texas, and two consignment offices in Miami and Washington, D.C.

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From Concept to Deployment: Building Commerce Storefronts with Composable UI

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Leah Weckert named new CEO of Coles; Steven Cain to retire

Inside Retail

Leah Weckert has been appointed as Coles’ new MD and CEO, effective May 1. Outgoing CEO Steven Cain has announced his retirement and will remain with the company for an interim period to facilitate an easy transition of executive responsibilities. “I would like to thank the Coles board, team and our many partners for their support, insights and resilience – particularly during Covid, bushfires and floods.

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Amazon CEO says it will ‘go big’ on grocery stores

Retail Wire

Amazon.com CEO Andy Jassy said that the retail and technology giant will “go big” on brick and mortar grocery stores despite the fact that the company recently hit pause on its expansion efforts. “We have a history of doing a lot of experimentation and doing it quickly. And then, when we find something that we like, doubling down on it, which is what we intend to do,” he said.

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More Trending

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Counterfeit vapes are undermining efforts to reduce smoking

Talking Retail

By Martin Cullip There is a vaping epidemic taking place across the UK, but not necessarily the one some would expect. The sale of hundreds of thousands of counterfeit vapes, as opposed to legal, regulated products, should be the real cause of concern. The vast majority of people who pick up a vape do so.

ATS 144
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Lladró Opens a New Concept Store in New York City

Retail Focus

Lladró has announced the opening of a new store in New York, the first in the US with the brand’s new concept. This new retail concept is dedicated to showcasing Lladró’s most innovative and groundbreaking creative designs and collaborations. The interior design of the store is a collaboration between Valencia-based Carmen Baselga Taller de Proyectos and Lladró’s store engineering team.

Boutique 306
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ASOS Gets Second Interim CFO as Leadership Reorg Continues

Retail TouchPoints

British online fashion and beauty retailer ASOS has appointed its second interim CFO in four months as current interim CFO Katy Mecklenburgh plans to leave in May 2023 for another role. Sean Glithero has been named as the company’s new interim CFO until a permanent CFO is appointed. He will formally take over the role in May 2023 but has already joined to company to “allow for a thorough handover,” ASOS said in a statement.

Finance 314
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Bain Capital sells Boost Juice, Betty’s Burgers parent

Inside Retail

Bain Capital has sold its stake in Retail Zoo – which operates Boost Juice and Betty’s Burgers – to private equity firm Admantem Capital. The value of the deal was reported to be worth about $350 million. Upon completion of the deal, Retail Zoo’s new investment partner will own a majority of the business and partner with the existing management team led by Nishad Alani, CEO of Retail Zoo.

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Turn Payments Into Personalization: Unlock the Value of Transaction Data

Speaker: David Nisbet, Everett Zufelt, and Michaela Weber

Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.

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Feds to step up child labor law enforcement

Retail Wire

The Labor and Health and Human Services departments are coordinating their efforts to uncover violations of child labor laws in light of recent cases where American employers were found to be using children as young as 13 in meatpacking and other jobs. “This is not a 19th-century problem — this is a today problem,” Labor Secretary Marty Walsh said in a statement.

Marketing 246
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What Company Do You Admire Most??

Hyken

Do you remember being asked, “What do you want to be when you grow up?” When you’re a child, the typical answers are aspirational, such as being a doctor, a fireman, a superhero, an athlete, and more. I have a grown-up version of this question. It’s not about what you want to be. It’s not even about you. It s about your company. You may be grown up, but your company should always be developing and evolving, so the question is now about your company’s aspirations.

Marketing 126
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Wendy’s Brilliant Twitter Strategy & Its Top 22 Best Tweets

Indigo 9 Digital

By Tricia McKinnon Innovation comes in all forms and for Wendy’s it can put its Twitter strategy on a pedestal for others to emulate. Wendy’s has always prided itself on being different with its square patties and Frosties instead of milkshakes. Its Twitter strategy is also a point of differentiation. Wendy’s is internet famous for trolling its competitors, roasting enemies as well as friends and giving away food to deserving customers.

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EuroShop 2023 Preview

Retail Focus

EuroShop 2023 is set to be more important than ever as the global retail industry looks to recover from the effects of the pandemic. Taking place in Düsseldorf from 26 February to 2 March, EuroShop will provide a platform for over 1,700 exhibitors from 56 nations to showcase their latest developments and innovations in the retail industry. EuroShop will showcase innovative solutions from exhibitors designed to help retailers adapt to the changing customer habits and needs.

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Brick & Mortar Retail Relevance: How to Stay Ahead of the Curve

Speaker: Jay Black, Senior Account Executive

Let's set the record straight: in-store retail isn't dead - it's evolving! Faced with the digital age and the demands of omnichannel shopping, some retailers are thriving while others are struggling to adapt. Join Jay Black in this exclusive session as he explores the strategies that set successful stores apart, including: Crafting unique and unforgettable in-store experiences 🛍️ Mastering the art of retail demands 🛒 Navigating inventory challenges in today's climate 📦 an

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Judge Rules that Amazon Illegally Threatened Organizing Workers at Two Warehouses

Retail TouchPoints

A judge with the National Labor Relations Board (NLRB) ruled that Amazon illegally threatened to withhold raises and bene f its from workers at two New York City warehouses if they voted to form a union. Administrative Law Judge Benjamin Green’s ruling concerns JFK8, which successfully unionized in April 2022, and LDJ5, which rejected its own union campaign in May 2022.

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Australian Retail Outlook 2023: Paradigm shifts and fresh perspectives

Inside Retail

After multiple paradigm shifts in 2022, retailers are facing a very different landscape in the months ahead. Let’s start with shoppers finally emerging from a Covid-19 cocoon of contemplation and online shopping. In a short period, their mindset shifted from lockdown doldrums to finally getting ‘back to normal’ with a bit of catchup spending and a lot of treating themselves after the hardships of the last two years.

Shipping 264
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Waitrose announces earliest British Asparagus season

Retail Times

Waitrose has welcomed an extra early asparagus season which is due to arrive in shops from 21st February, nine weeks earlier than normal. Traditionally, the British asparagus season is from St George’s Day (23rd April), so Waitrose customers will be able to enjoy British Asparagus for even longer this year.

Shopping 124
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Party City plans to close 22 stores in bankruptcy

Retail Dive

Twelve of the locations are already up for auction, and the total number of closures could change as the retailer continues to evaluate its footprint.

Planning 137
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How to Stay Competitive in the Evolving State of Martech

Marketing technology is essential for B2B marketers to stay competitive in a rapidly changing digital landscape — and with 53% of marketers experiencing legacy technology issues and limitations, they’re researching innovations to expand and refine their technology stacks. To help practitioners keep up with the rapidly evolving martech landscape, this special report will discuss: How practitioners are integrating technologies and systems to encourage information-sharing between departments and pr

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ISE 2023 Breaks Records with High Visitor Turnout, Inspiring Content, and Royal Appearance

365 Retail

The 2023 edition of the world’s leading audiovisual and systems integration exhibition, ISE , took place in Barcelona from 31st January to 3rd February and exceeded all expectations. ISE 2023 attracted 58,107 unique attendees from 155 countries and saw record-breaking occupation in the city’s hotels, bars, and entertainment venues. Exhibitors reported exceptional footfall on their booths across the largest-ever ISE show floor.

Returns 124
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NOBULL Announces Launch of First Permanent Concept Store in Europe at Battersea Power Station

Retail Focus

Battersea Power Station announced today that global training brand, NOBULL , will open its first permanent concept store in Europe in the newly restored Grade II* listed Power Station , which opened its doors to the public on 14 th October 2022 alongside Electric Boulevard, a new pedestrianised high street for London. Founded in Boston in 2015, NOBULL is a footwear, apparel and accessory brand with a strong global community.

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What Does the Future Hold for Malls? Design Visionaries Share Their Predictions

Retail TouchPoints

The shopping mall’s identity crisis has been an oft-discussed topic in the retail industry. Even beforethe pandemic, the narrative focused on how malls were navigating the rise in online shopping and the associated fall in foot traffic. During the pandemic, focus shifted to ways shopping malls were attempting to make shopping faster, easier and safer for consumers with curbside services offerings and other omnichannel capabilities.

Consumer 304
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Kmart underpins strong quarter for Wesfarmers – but inflation fears loom

Inside Retail

Wesfarmers has reported a 14 per cent increase in interim profit, with its Kmart arm sales up by 114 per cent. However, the company says its retail business will soon face headwinds due to ongoing inflation and interest rate hikes. The retail business of Wesfarmers comprises Bunnings, Officeworks, and the Kmart Group – which includes Kmart, Target and Catch.

Planning 264
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Exploring the Advantages and Hurdles of Direct Store Deliveries

Direct Store Delivery, or DSD, is a common practice among global suppliers and retailers – like PepsiCo, Frito Lay, CVS, and Dollar General – and its popularity is growing, with the global DSD market expected to reach $1.19 trillion by 2027. Download this eBook for exclusive insights into direct store deliveries, challenges, benefits, and future trends.

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Toolstation raises over £750,000 for Macmillan Cancer Support

A1 Retail

Toolstation raised over £750,000 for its designated charity partner, Macmillan Cancer Support, in 2022. Since launching the charity partnership in 2020, Toolstation has raised over £1,500,000 for Macmillan, to help fund vital physical, financial, and emotional support for the millions of people living with cancer across the UK. With the £750,000 donation, Macmillan could pay for 12 Macmillan Nurses for a whole year, helping people living with cancer and their families receive essential medical,

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Gonzalez Haase AAS evokes Iceland's volcanic landscape at 66º North store

Dezeen

Architecture studio Gonzalez Haase AAS has completed a store on London 's Regent Street for Icelandic clothing brand 66º North, featuring curved walls and freestanding plinths made from rammed earth. The Berlin-based studio headed by Pierre Jorge Gonzalez and Judith Haase set out to create a holistic concept for the store that represents Iceland in an original way, rather than relying on stereotypes.

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Three quarters of CMOs surveyed planning to expand direct-to-consumer selling channels into 2023

365 Retail

Consumer electronics brands are looking to increase their direct-to-consumer selling in 2023, despite the cost of living crisis and reductions in consumer spending. In addition, they are looking to broaden their use of social channels to include Instagram Checkout and TikTok in equivalent volumes to Amazon, new research shows. This finding comes from ChannelAdvisor, a CommerceHub company, which conducted a survey of C-suite employees at large consumer electronics brands (with over 500 employees)

Consumer 122
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Shop and Display Equipment Association Announces Networking Lounge at the VM and Display Show in April

Retail Focus

The Shop & Display Equipment Association (SDEA) is excited to announce the addition of a new SDEA Networking Lounge at the upcoming VM & Display Show, to be held in April at London’s Business Design Centre. This new feature will provide members with an opportunity to connect with other industry professionals and an extremely cost-effective route to take part in the VM & Display Show.

Shopping 279
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Disruption Reimagined: How to Conquer, Not Crumble, During Supply Chain Instability

Speaker: Robyn O’Brien - Founder of Sirona Ventures, Adjunct Professor at Rice University’s Business School, Supply Chain Optimization and Logistics Expert

Today’s supply chain leaders are required to stay strong in the face of disruption and not only accept it, but embrace it – after all, progress is made outside of your comfort zone. While it’s easier said than done, conquering the fear of instability in your supply chain is within your reach. Thanks to the advancement of technology and AI, we now have more tools and resources at our disposal than ever before to conquer, not crumble, in the face of uncertainty.

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David’s Bridal Launches ‘House of Prom’ Pop-Ups

Retail TouchPoints

Continuing its efforts to gain a greater share of promgoers’ purchases, David’s Bridal has opened “House of Prom” pop-up shops in five select markets across the country. The retailer introduced its Diamond Prom loyalty program in December 2022 , offering both individual member rewards and the opportunity for schoolmates to pool their points and earn a photo booth for their special event.

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Brooks Brothers to relaunch in Australia 

Inside Retail

American fashion brand Brooks Brothers has relaunched in the Australian market with its new Autumn/ Winter 2023 collection. In a joint venture with Oroton Group, the first Brooks Brothers store in Australia opened its doors in 2014 at Melbourne’s The Emporium and with a 2293sqft store. But after two years of collaboration expanding to 13 storefronts and a local online store, Oroton Group exited the joint venture Brooks Brothers Australia and sold its whole interest to the US parent firm

Wholesale 264
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Join Surface Design Show and its impressive Programme of Talks

A1 Retail

Next week (7 th – 9 th February 2023), Surface Design Show returns to London’s Business Design Centre where visitors will not only be able to explore new material innovations from over 180 exhibitors, but also engage with a comprehensive talks programme featuring a stellar line up of presentations from industry experts. The programme consists of an exciting line-up of 24 presentations from 50 speakers, including architects, designers, manufacturers and journalists.

Returns 115
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What lies ahead for retail in 2023

Retail Dive

Value-conscious consumers, rising layoffs and new leadership at some of retail’s major players are just a few forces shaping the industry so far.

Consumer 125
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